8-K 1 sam02ar2_sep.txt SEPTEMBER 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D. C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): September 20, 2004 STRUCTURED ASSET MORTGAGE INVESTMENTS INC. Mortgage Pass-Through Certificates, Series 2002-AR2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-68542-05 90-0073004 Pooling and Servicing Agreement) (Commission 90-0073048 (State or other File Number) 90-0073071 jurisdiction 90-0175053 of Incorporation) IRS EIN c/o Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c)) ITEM 8.01 Other Events On September 20, 2004 a distribution was made to holders of STRUCTURED ASSET MORTGAGE INVESTMENTS INC., Mortgage Pass-Through Certificates, Series 2002-AR2 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-AR2 Trust, relating to the September 20, 2004 distribution. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. STRUCTURED ASSET MORTGAGE INVESTMENTS INC. Mortgage Pass-Through Certificates, Series 2002-AR2 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 9/21/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-AR2 Trust, relating to the September 20, 2004 distribution. EX-99.1

Structured Asset Mortgage Investments Inc. Mortgage Pass-Through Certificates, Series 2002-AR2 Trust. Record Date: 38/31/042004 Distribution Date: 49/1920/042004 SAM Series: 2002-AR2 Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A-1 86358HNH8 SEN 1.~~44000~~95000% ~~188~~175,~~317~~505,~~792~~048.8674 ~~225~~285,~~981~~195.3471 14,~~100~~152,~~968~~536.1404 A-2 86358HNK1 SEN 2.~~85468~~80244% 3431,~~752~~105,~~239~~617.7510 8272,~~672~~643.1101 ~~721~~321,~~725~~616.4982 R-I 86358HNL9 RES 3.~~59624~~59555% 0.00 0.00 0.00 R-II 86358HNM7 RES 3.~~59624~~59555% 0.00 0.00 0.00 R-III 86358HNS4 RES 3.~~59624~~59555% 0.00 0.00 0.00 R-IV 86358HNT2 RES 3.~~59624~~59555% 0.00 0.00 0.00 A-3 86358HNR6 SEN 12.~~59000~~10000% 9,929,755.38 1317,~~156~~377.9307 0.00 B-1 86358HNN5 SUB 12.~~79000~~30000% 4,124,781.46 67,~~152~~905.8083 0.00 B-2 86358HNP0 SUB 2.~~09000~~60000% 2,902,486.96 56,~~055~~288.1672 0.00 B-3 86358HNQ8 SUB 2.~~09000~~60000% 1,833,291.76 3,~~192~~972.9813 0.00 B-4 86358HNU9 SUB 23.~~81113~~03049% 1,069,395.19 2,~~505~~700.1866 0.00 B-5 86358HNV7 SUB 23.~~81113~~03049% 610,997.25 1,~~431~~543.3302 0.00 B-6 86358HNW5 SUB 23.~~81113~~03049% 1,680,541.45 34,~~936~~244.8506 0.00 X 86358HNJ4 SEN 1.~~33440~~08967% 0.00 ~~230~~176,~~303~~431.5194 0.00 Totals ~~245~~228,~~221~~761,~~282~~915.0629 ~~574~~578,~~388~~302.1915 14,~~822~~474,~~693~~152.6386

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~187~~171,~~216~~352,~~824~~512.7270 14,~~326~~437,~~949~~731.4875 0.00 A-2 0.00 3430,~~030~~784,~~514~~000.2628 ~~804~~394,~~397~~259.6083 0.00 R-I 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 R-III 0.00 0.00 0.00 0.00 R-IV 0.00 0.00 0.00 0.00 A-3 0.00 9,929,755.38 1317,~~156~~377.9307 0.00 B-1 0.00 4,124,781.46 67,~~152~~905.8083 0.00 B-2 0.00 2,902,486.96 56,~~055~~288.1672 0.00 B-3 0.00 1,833,291.76 3,~~192~~972.9813 0.00 B-4 0.00 1,069,395.19 2,~~505~~700.1866 0.00 B-5 0.00 610,997.25 1,~~431~~543.3302 0.00 B-6 0.00 1,680,541.45 34,~~936~~244.8506 0.00 X 0.00 0.00 ~~230~~176,~~303~~431.5194 0.00 Totals 0.00 ~~243~~224,~~398~~287,~~588~~762.43 25,~~397~~052,~~081~~455.8201 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A-1 237,188,200.00 ~~188~~175,~~317~~505,~~792~~048.8674 0.00 14,~~100~~152,~~968~~536.1404 0.00 0.00 A-2 46,194,500.00 3431,~~752~~105,~~239~~617.7510 0.00 ~~721~~321,~~725~~616.4982 0.00 0.00 R-I 50.00 0.00 0.00 0.00 0.00 0.00 R-II 50.00 0.00 0.00 0.00 0.00 0.00 R-III 50.00 0.00 0.00 0.00 0.00 0.00 R-IV 50.00 0.00 0.00 0.00 0.00 0.00 A-3 9,929,800.00 9,929,755.38 0.00 0.00 0.00 0.00 B-1 4,124,800.00 4,124,781.46 0.00 0.00 0.00 0.00 B-2 2,902,500.00 2,902,486.96 0.00 0.00 0.00 0.00 B-3 1,833,300.00 1,833,291.76 0.00 0.00 0.00 0.00 B-4 1,069,400.00 1,069,395.19 0.00 0.00 0.00 0.00 B-5 611,000.00 610,997.25 0.00 0.00 0.00 0.00 B-6 1,680,549.00 1,680,541.45 0.00 0.00 0.00 0.00 X 0.00 0.00 0.00 0.00 0.00 0.00 Totals 305,534,249.00 ~~245~~228,~~221~~761,~~282~~915.0629 0.00 14,~~822~~474,~~693~~152.6386 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A-1 14,~~100~~152,~~968~~536.1404 ~~187~~171,~~216~~352,~~824~~512.7270 0.~~78931762~~72243270 14,~~100~~152,~~968~~536.1404 A-2 ~~721~~321,~~725~~616.4982 3430,~~030~~784,~~514~~000.2628 0.~~73667892~~66639969 ~~721~~321,~~725~~616.4982 R-I 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 R-III 0.00 0.00 0.00000000 0.00 R-IV 0.00 0.00 0.00000000 0.00 A-3 0.00 9,929,755.38 0.99999551 0.00 B-1 0.00 4,124,781.46 0.99999551 0.00 B-2 0.00 2,902,486.96 0.99999551 0.00 B-3 0.00 1,833,291.76 0.99999551 0.00 B-4 0.00 1,069,395.19 0.99999550 0.00 B-5 0.00 610,997.25 0.99999550 0.00 B-6 0.00 1,680,541.45 0.99999551 0.00 X 0.00 0.00 0.00000000 0.00 Totals 14,~~822~~474,~~693~~152.6386 ~~243~~224,~~398~~287,~~588~~762.43 0.~~79663275~~73408387 14,~~822~~474,~~693~~152.6386

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 237,188,200.00 ~~793~~739.~~95936585~~94005073 0.00000000 417.~~64174921~~50734666 0.00000000 A-2 46,194,500.00 ~~752~~673.~~30254143~~36191754 0.00000000 156.~~62362381~~96223187 0.00000000 R-I 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-III 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-IV 50.00 0.00000000 0.00000000 0.00000000 0.00000000 A-3 9,929,800.00 999.99550646 0.00000000 0.00000000 0.00000000 B-1 4,124,800.00 999.99550524 0.00000000 0.00000000 0.00000000 B-2 2,902,500.00 999.99550732 0.00000000 0.00000000 0.00000000 B-3 1,833,300.00 999.99550537 0.00000000 0.00000000 0.00000000 B-4 1,069,400.00 999.99550215 0.00000000 0.00000000 0.00000000 B-5 611,000.00 999.99549918 0.00000000 0.00000000 0.00000000 B-6 1,680,549.00 999.99550742 0.00000000 0.00000000 0.00000000 X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All classes are per $1,000 denomination.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-1 0.00000000 417.~~64174921~~50734666 ~~789~~722.~~31761664~~43270407 0.~~78931762~~72243270 417.~~64174921~~50734666 A-2 0.00000000 156.~~62362381~~96223187 ~~736~~666.~~67891762~~39968568 0.~~73667892~~66639969 156.~~62362381~~96223187 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-III 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-IV 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-3 0.00000000 0.00000000 999.99550646 0.99999551 0.00000000 B-1 0.00000000 0.00000000 999.99550524 0.99999551 0.00000000 B-2 0.00000000 0.00000000 999.99550732 0.99999551 0.00000000 B-3 0.00000000 0.00000000 999.99550537 0.99999551 0.00000000 B-4 0.00000000 0.00000000 999.99550215 0.99999550 0.00000000 B-5 0.00000000 0.00000000 999.99549918 0.99999550 0.00000000 B-6 0.00000000 0.00000000 999.99550742 0.99999551 0.00000000 X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A-1 237,188,200.00 1.~~44000~~95000% ~~188~~175,~~317~~505,~~792~~048.8674 ~~225~~285,~~981~~195.3570 0.00 0.00 A-2 46,194,500.00 2.~~85468~~80244% 3431,~~752~~105,~~239~~617.7510 8272,~~672~~643.1101 0.00 0.00 R-I 50.00 3.~~59624~~59555% 0.00 0.00 0.00 0.00 R-II 50.00 3.~~59624~~59555% 0.00 0.00 0.00 0.00 R-III 50.00 3.~~59624~~59555% 0.00 0.00 0.00 0.00 R-IV 50.00 3.~~59624~~59555% 0.00 0.00 0.00 0.00 A-3 9,929,800.00 12.~~59000~~10000% 9,929,755.38 1317,~~156~~377.9307 0.00 0.00 B-1 4,124,800.00 12.~~79000~~30000% 4,124,781.46 67,~~152~~905.8083 0.00 0.00 B-2 2,902,500.00 2.~~09000~~60000% 2,902,486.96 56,~~055~~288.1672 0.00 0.00 B-3 1,833,300.00 2.~~09000~~60000% 1,833,291.76 3,~~192~~972.9813 0.00 0.00 B-4 1,069,400.00 23.~~81113~~03049% 1,069,395.19 2,~~505~~700.1866 0.00 0.00 B-5 611,000.00 23.~~81113~~03049% 610,997.25 1,~~431~~543.3302 0.00 0.00 B-6 1,680,549.00 23.~~81113~~03049% 1,680,541.45 34,~~936~~244.8506 0.00 0.00 X 0.00 1.~~33440~~08967% ~~207~~194,~~108~~295,~~108~~364.4129 ~~230~~176,~~303~~431.5194 0.00 0.00 Totals 305,534,249.00 ~~574~~578,~~388~~302.2014 0.00 0.00

Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A-1 (0.01) 0.00 ~~225~~285,~~981~~195.3471 0.00 ~~187~~171,~~216~~352,~~824~~512.7270 A-2 0.00 0.00 8272,~~672~~643.1101 0.00 3430,~~030~~784,~~514~~000.2628 R-I 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 R-III 0.00 0.00 0.00 0.00 0.00 R-IV 0.00 0.00 0.00 0.00 0.00 A-3 0.00 0.00 1317,~~156~~377.9307 0.00 9,929,755.38 B-1 0.00 0.00 67,~~152~~905.8083 0.00 4,124,781.46 B-2 0.00 0.00 56,~~055~~288.1672 0.00 2,902,486.96 B-3 0.00 0.00 3,~~192~~972.9813 0.00 1,833,291.76 B-4 0.00 0.00 2,~~505~~700.1866 0.00 1,069,395.19 B-5 0.00 0.00 1,~~431~~543.3302 0.00 610,997.25 B-6 0.00 0.00 34,~~936~~244.8506 0.00 1,680,541.45 X 0.00 0.00 ~~230~~176,~~303~~431.5194 0.00 ~~206~~190,~~007~~142,~~140~~828.2725 Totals (0.01) 0.00 ~~574~~578,~~388~~302.1915 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall A-1 237,188,200.00 1.~~44000~~95000% ~~793~~739.~~95936585~~94005073 01.~~95275123~~20240256 0.00000000 0.00000000 A-2 46,194,500.00 2.~~85468~~80244% ~~752~~673.~~30254143~~36191754 1.~~78965266~~57254673 0.00000000 0.00000000 R-I 50.00 3.~~59624~~59555% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 3.~~59624~~59555% 0.00000000 0.00000000 0.00000000 0.00000000 R-III 50.00 3.~~59624~~59555% 0.00000000 0.00000000 0.00000000 0.00000000 R-IV 50.00 3.~~59624~~59555% 0.00000000 0.00000000 0.00000000 0.00000000 A-3 9,929,800.00 12.~~59000~~10000% 999.99550646 1.~~32499446~~74999194 0.00000000 0.00000000 B-1 4,124,800.00 12.~~79000~~30000% 999.99550524 1.~~49166020~~91665778 0.00000000 0.00000000 B-2 2,902,500.00 2.~~09000~~60000% 999.99550732 12.~~74165719~~16665633 0.00000000 0.00000000 B-3 1,833,300.00 2.~~09000~~60000% 999.99550537 12.~~74165712~~16665576 0.00000000 0.00000000 B-4 1,069,400.00 23.~~81113~~03049% 999.99550215 2.~~34260333~~52539742 0.00000000 0.00000000 B-5 611,000.00 23.~~81113~~03049% 999.99549918 2.~~34260229~~52540098 0.00000000 0.00000000 B-6 1,680,549.00 23.~~81113~~03049% 999.99550742 2.~~34259757~~52540093 0.00000000 0.00000000 X 0.00 1.~~33440~~08967% ~~809~~759.~~08368282~~02971690 0.~~89969830~~68924488 0.00000000 0.00000000 (5) All classes are per $1,000 denomination.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A-1 (0.00000004) 0.00000000 01.~~95275119~~20240261 0.00000000 ~~789~~722.~~31761664~~43270407 A-2 0.00000000 0.00000000 1.~~78965266~~57254673 0.00000000 ~~736~~666.~~67891762~~39968568 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-III 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-IV 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-3 0.00000000 0.00000000 1.~~32499446~~74999194 0.00000000 999.99550646 B-1 0.00000000 0.00000000 1.~~49166020~~91665778 0.00000000 999.99550524 B-2 0.00000000 0.00000000 12.~~74165719~~16665633 0.00000000 999.99550732 B-3 0.00000000 0.00000000 12.~~74165712~~16665576 0.00000000 999.99550537 B-4 0.00000000 0.00000000 2.~~34260333~~52539742 0.00000000 999.99550215 B-5 0.00000000 0.00000000 2.~~34260229~~52540098 0.00000000 999.99549918 B-6 0.00000000 0.00000000 2.~~34259757~~52540093 0.00000000 999.99550742 X 0.00000000 0.00000000 0.~~89969830~~68924488 0.00000000 ~~804~~742.~~78266648~~80751692 (6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 25,~~472~~125,~~248~~857.9419 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 4,~~792~~754.1654 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 25,~~477~~130,~~041~~611.1073 Withdrawals Reimbursement for Servicer Advances 36,~~327~~668.6263 Payment of Service Fee 7671,~~631~~488.6609 Payment of Interest and Principal 25,~~397~~052,~~081~~455.8201 Total Withdrawals (Pool Distribution Amount) 25,~~477~~130,~~041~~611.1073 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 0.00 Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall 0.0100

SERVICING FEES Gross Servicing Fee 7671,~~631~~488.6609 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 7671,~~631~~488.6609

LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 01 0 0 01 0114,400.00 0.00 0.00 0114,400.00 30 Days 31 0 01 0 32 ~~613~~84,~~000~~585.0085 0.00 0319,991.0008 0.00 ~~613~~404,~~000~~576.0093 60 Days 1 0 0 0 1 ~~149~~117,~~600~~500.00 0.00 0.00 0.00 ~~149~~117,~~600~~500.00 90 Days 10 0 10 0 20 ~~117,500~~0.00 0.00 ~~308,750~~0.00 0.00 ~~426,250~~0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 01 0 01 0.00 0.00 0532,000.00 0.00 0532,000.00 180+ Days 1 0 21 01 1 3 0.00 364,000.00 0308,750.00 ~~463~~144,~~991~~000.4840 ~~0.00 827~~816,~~991~~750.4840 Totals 62 02 3 01 98 1202,~~244,100~~085.0085 0478,400.00 ~~772~~1,160,741.4808 0144,000.0040 21,~~016~~985,~~841~~227.4833 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.~~000000~~149031% 0.000000% 0.000000% 0.~~000000~~149031% 0.~~000000~~051006% 0.000000% 0.000000% 0.~~000000~~051006% 30 Days 0.~~412655~~149031% 0.000000% 0.~~000000~~149031% 0.000000% 0.~~412655~~298063% 0.~~251850~~037713% 0.000000% 0.~~000000~~142670% 0.000000% 0.~~251850~~180383% 60 Days 0.~~137552~~149031% 0.000000% 0.000000% 0.000000% 0.~~137552~~149031% 0.~~061463~~052388% 0.000000% 0.000000% 0.000000% 0.~~061463~~052388% 90 Days 0.~~137552~~000000% 0.000000% 0.~~137552~~000000% 0.000000% 0.~~275103~~000000% 0.~~048275~~000000% 0.000000% 0.~~126850~~000000% 0.000000% 0.~~175124~~000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.~~000000~~149031% 0.000000% 0.~~000000~~149031% 0.000000% 0.000000% 0.~~000000~~237195% 0.000000% 0.~~000000~~237195% 180+ Days 0.~~137552~~000000% 0.~~000000~~149031% 0.~~275103~~149031% 0.~~000000~~149031% 0.~~412655~~447094% 0.~~149549~~000000% 0.~~000000~~162292% 0.~~190630~~137658% 0.~~000000~~064203% 0.~~340179~~364153% Totals 0.~~825309~~298063% 0.~~000000~~298063% 0.~~412655~~447094% 0.~~000000~~149031% 1.~~237964~~192250% 0.~~511137~~090101% 0.~~000000~~213297% 0.~~317480~~517523% 0.~~000000~~064203% 0.~~828617~~885125%

Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group I No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 01 0 0 01 0114,400.00 0.00 0.00 0114,400.00 30 Days 30 0 0 0 30 ~~613,000~~0.00 0.00 0.00 0.00 ~~613,000~~0.00 60 Days 1 0 0 0 1 ~~149~~117,~~600~~500.00 0.00 0.00 0.00 ~~149~~117,~~600~~500.00 90 Days 10 0 10 0 20 ~~117,500~~0.00 0.00 ~~308,750~~0.00 0.00 ~~426,250~~0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 01 0 01 0.00 0.00 0532,000.00 0.00 0532,000.00 180 Days 0 1 01 1 3 0.00 2 364,000.00 0308,750.00 144,000.40 ~~0.00 508~~816,~~000~~750.40 Totals 61 02 2 01 86 1117,~~244,100~~500.00 0478,400.00 ~~452~~840,750.~~40 0.~~00 1144,~~696,850~~000.40 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.500835% 0.000000% 0.000000% 0.000000% 0.500835% 0.297924% 0.000000% 0.000000% 0.000000% 0.297924% 60 Days 0.166945% 0.000000% 0.000000% 0.000000% 0.166945% 0.072707% 0.000000% 0.000000% 0.000000% 0.072707% 90 Days 0.166945% 0.000000% 0.166945% 0.000000% 0.333890% 0.057106% 0.000000% 0.150056% 0.000000% 0.207162% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.166945% 0.000000% 0.166945% 0.000000% 0.333890% 0.176908% 0.000000% 0.069986% 0.000000% 0.246893% Totals 1.001669% 0.000000% 0.333890% 0.000000% 1.335559% 0.604645% 0.000000% 0.220041% 0.000000% 0.824686% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group II No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 1 0 1 0.00 0.00 319,~~991.08 0.00 319~~580,~~991~~650.0840 ~~Totals~~ 0 ~~0 1 0 1 0.00 0.00 319,991.08 0.00 319,991.08 0~~-29 Days 0.~~000000~~181159% 0.000000% 0.000000% 0.~~000000~~181159% 0.~~000000~~060245% 0.000000% 0.000000% 0.~~000000~~060245% 30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 60 Days 0.~~000000~~181159% 0.000000% 0.000000% 0.000000% 0.~~000000~~181159% 0.~~000000~~061877% 0.000000% 0.000000% 0.000000% 0.~~000000~~061877% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.~~000000~~181159% 0.000000% 0.~~000000~~181159% 0.000000% 0.000000% 0.~~000000~~280158% 0.000000% 0.~~000000~~280158% 180 Days 0.000000% 0.~~000000~~181159% 0.~~781250~~181159% 0.~~000000~~181159% 0.~~781250~~543478% 0.000000% 0.~~000000~~191687% 0.~~850102~~162592% 0.~~000000~~075832% 0.~~850102~~430111% Totals 0.~~000000~~181159% 0.~~000000~~362319% 0.~~781250~~362319% 0.~~000000~~181159% 01.~~781250~~086957% 0.~~000000~~061877% 0.~~000000~~251932% 0.~~850102~~442750% 0.~~000000~~075832% 0.~~850102~~832391%

~~OTHER~~DELINQUENT ~~INFORMATION~~BANKRUPTCY ~~Current~~FORECLOSURE ~~Period~~REO ~~Class~~Total AGroup ~~Insufficient~~II ~~Funds~~No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 ~~Principal~~0.00 ~~Balance~~0.00 of0.00 ~~Contaminated~~30 ~~Properties~~Days 1 0 1 0 2 84,585.85 0.00 ~~Periodic~~319,991.08 ~~Advance~~0.00 4404,~~792~~576.1693 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 1 0 1 0 2 84,585.85 0.00 319,991.08 0.00 404,576.93 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.840336% 0.000000% 0.840336% 0.000000% 1.680672% 0.245925% 0.000000% 0.930343% 0.000000% 1.176268% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.840336% 0.000000% 0.840336% 0.000000% 1.680672% 0.245925% 0.000000% 0.930343% 0.000000% 1.176268%

~~COLLATERAL~~OTHER ~~STATEMENT~~INFORMATION ~~Collateral~~Current ~~Description~~Period ~~Mixed~~Class ~~ARM~~A ~~Weighted~~Insufficient ~~Average~~Funds Gross Coupon 3.185791% Weighted Average Net Coupon 2.810791% Weighted Average Pass-Through Rate 2.810791% Weighted Average Maturity(Stepdown Calculation ) 279 Beginning Scheduled Collateral Loan Count 736 Number Of Loans Paid In Full 9 Ending Scheduled Collateral Loan Count 727 Beginning Scheduled Collateral Balance 245,221,282.06 Ending Scheduled Collateral Balance 243,398,588.43 Ending Actual Collateral Balance at 31-Mar-2004 243,398,585.57 Monthly P &I Constant 651,019.85 Special Servicing Fee 0.00 ~~Prepayment~~Principal ~~Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled~~ Balance ~~for~~of ~~Premium~~Contaminated ~~Loans~~Properties ~~243,398,588.43 Scheduled Principal~~ 0.00 ~~Unscheduled~~Periodic ~~Principal~~Advance 14,~~822,693~~754.6354

~~Miscellaneous~~COLLATERAL ~~Reporting~~STATEMENT ~~Senior~~Collateral ~~Percentage~~Description ~~Group~~Mixed IARM 91Weighted Average Gross Coupon 3.~~037198~~408558% ~~Senior~~Weighted ~~Percentage~~Average ~~Group~~Net IICoupon 903.~~587413~~033558% ~~Senior~~Weighted ~~Prep~~Average ~~Percentage~~Pass-Through ~~Group~~Rate ~~I 100~~3.~~000000~~033558% ~~Senior~~Weighted ~~Prep~~Average ~~Percentage~~Maturity(Stepdown ~~Group~~Calculation II) ~~100~~274 Beginning Scheduled Collateral Loan Count 685 Number Of Loans Paid In Full 14 Ending Scheduled Collateral Loan Count 671 Beginning Scheduled Collateral Balance 228,761,915.~~000000%~~29 ~~Subordinate~~Ending ~~Percentage~~Scheduled ~~Group~~Collateral Balance 224,287,762.43 Ending Actual Collateral Balance at 31-Aug-2004 224,287,756.57 Monthly P &I 8Constant 649,790.~~962802%~~24 ~~Subordinate~~Special ~~Percentage~~Servicing ~~Group~~Fee II0.00 9Prepayment Penalties 0.~~412587%~~00 ~~Subordinate~~Realized ~~Prep~~Loss ~~Percentage~~Amount ~~Group~~0.00 ICumulative Realized Loss 0.~~000000%~~00 ~~Subordinate~~Ending ~~Prep~~Scheduled ~~Percentage~~Balance ~~Group~~for IIPremium Loans 224,287,762.43 Scheduled Principal 0.~~000000%~~00 Unscheduled Principal 4,474,152.86

~~Group~~Miscellaneous ~~Level~~Reporting ~~Collateral~~Senior ~~Statement~~Percentage Group ~~Group~~ I ~~Group II Total Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 3~~90.~~177652~~445388% ~~3.229680~~Senior ~~3.185791~~Percentage ~~Weighted~~Group ~~Average~~II ~~Net Rate 2~~89.~~802652~~598717% ~~2.854680~~Senior ~~2.810791~~Prep ~~Weighted~~Percentage ~~Average~~Group ~~Maturity~~I ~~279 281 279 Beginning Loan Count 603 133 736 Loans Paid In Full 4 5 9 Ending Loan Count 599 128 727 Beginning Scheduled Balance 206,858,071~~100.69000000% ~~38,363,210.37~~Senior ~~245,221,282.06~~Prep ~~Ending~~Percentage ~~scheduled~~Group ~~Balance~~II ~~205,757,103~~100.55000000% ~~37,641,484.88~~Subordinate ~~243,398,588.43~~Percentage ~~Record~~Group ~~Date~~I ~~03/31/2004 03/31/2004 03/31/2004 Principal And Interest Constant 547,769~~9.10554612% ~~103,250.75~~Subordinate ~~651,019.85~~Percentage ~~Scheduled~~Group ~~Principal~~II ~~0.00 0.00 0.00 Unscheduled Principal 1,100,968.14 721,725.49 1,822,693.63 Scheduled Interest 547,769.~~10 ~~103,250~~.75401283% ~~651,019.85~~Subordinate ~~Servicing~~Prep ~~Fees~~Percentage ~~64,643.16~~Group ~~11,988.50~~I ~~76,631.66 Master Servicing Fees~~ 0.00000000% ~~0.00~~Subordinate ~~0.00~~Prep Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 0.00 0.00 0.00 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest 483,125.94 91,262.25 574,388.19 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage ofGroup ~~Cumulative~~II ~~Losses~~ 0.~~0000 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 2.802652 2.854680 2.810791~~000000%

Filing Compare · STRUCTURED ASSET MORTGAGE INVEST MORT PA THR CE SER 2002-AR2